Wonder how much the median price is for a new — or used — car? Probably could find that somewhere. But not really worth the effort. But I was thinking about it while running this morning because of a story I read in The Plain Dealer yesterday.
“Has The Cleveland Housing Market Finally Hit Rock Bottom?” — by Mark Gillispie. The subhead: “Local prices plunge as glut of vacant homes are snatched up cheaply by outsiders looking to turn a quick profit.”
Gee. Another great story for the Cleveland economic development guys. The pitch: Cleveland. Home of cheap homes.
Well, probably not. Here’s a key paragraph:
The median home sale price in the city of Cleveland has dropped an astonishing 75 percent compared with the first six months of last year – from $62,000 to $15,500.
Ouch. And sad. Particularly for the residents of Cleveland and for the families involved. Folks, again, we’re facing some big problems here in Northeast Ohio and throughout the country. And we better start thinking about what we are going to do in a city where apparently you can now buy a house for about the same price as a car. And I wonder what the declining home values will mean in terms of school revenues — in Cleveland and elsewhere? I digress. And I wish I had something humorous to add here. But I don’t.
And since I am talking about The Plain Dealer I should mention that the management (publisher and editors) sure seem to be serious in doing what they need to survive as readers continue to abandon print for newspapers online. The printed version is readable — focused very much on local news (check out the front page any day) — and organized in a way that provides readers with information quickly and at a glance. Whether that will win over the young people and others who have abandoned the printed newspapers is doubtful. But The Plain Dealer is going to survive — online, with what is really a very good digital version. IMO. There is another newspaper closer to my home in Northeast Ohio that could learn some lessons here. And hopefully it will — sooner rather than later.